Franks 4hour Limit Orders
Franks 4hour Limit Orders is an expert advisor (trading robot) for MetaTrader 4 from the Old Kings collection. Its source code uses MACD. It places pending orders, moves the stop behind price and can size trades from your risk. It has 5 settings, for example Lots (default 1), Take Profit (default 150) and Stoploss (default 35). Before any live use, test it on a demo account and check its lot size, stop loss and trading hours. Inside: 1 EA file with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Expert advisor · MT4 · v1.0 · Free
About Franks 4hour Limit Orders
Franks 4hour Limit Orders is an expert advisor (trading robot) for MetaTrader 4 based on MACD. It places pending buy/sell stop or limit orders, moves the stop loss behind price (trailing stop / break-even) and can size trades from your balance and risk percent. It has 5 settings, such as Lots, Take profit and Stoploss. MQL source code included.
Files in the download: Franks 4hour limit orders.mq4.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| Lots | 1 | Trade size in lots |
| Take profit | 150 | Take profit distance |
| Stoploss | 35 | Stop loss distance |
| Trailing stop | 30 | Trailing stop distance or switch |
| Slippage | 5 | Slippage |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Experts.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the expert advisor from the Navigator onto a chart, check the settings, allow Algo/Auto Trading and press OK.
- Test it first on a demo account or in the Strategy Tester.
Tags: Pending Orders · Trailing Stop & Break-even · Risk & Lot Size · MACD · MT4 Expert Advisor · MQL4 Source Code